The Canada Infrastructure Bank (CIB) has announced the closing of a $97mn loan to support the development of the Wedgeport Wind project, located in the Municipal District of Argyle, Nova Scotia. This financing supports the construction of 12 turbines with a total capacity of up to 84 megawatts of electricity for the provincial grid.
The project is led by Elemental Energy in partnership with Stevens Wind and the Sipekne’katik First Nation (SFN). The turbines used will be seven-megawatt Nordex models. The development also includes transmission infrastructure to connect the new energy supply to the provincial energy network. The total capacity will provide power to more than 30,000 households and businesses.
Local economic and community involvement
The construction phase is expected to generate up to 85 jobs. Permanent positions are also planned for site operations and maintenance. To carry out the work, the partners selected Mi’kma’ki Municipal Limited Partnership (MMLP), a consortium comprising the economic development agency Wskinjnu’k Mtnm’tanqunuow Agency Limited (WMA) and the Municipal Group of Companies.
WMA represents all thirteen Mi’kmaq communities in Nova Scotia. The agreement includes enhanced Indigenous participation through workforce creation, local development and training opportunities. Construction is already underway, and operations are expected to begin by the end of 2026.
A project aligned with federal energy strategy
The financing is part of CIB’s $10bn Clean Power portfolio, which addresses financing gaps in renewable energy, district energy systems and energy storage. This is the second project supported by CIB alongside Elemental Energy, SFN and Stevens Wind under Nova Scotia’s Rate Based Procurement process.
To date, the CIB has invested over $950mn in seven energy projects in the province. The bank stated that the initiative supports infrastructure development and improves access to affordable energy, in line with regional cost-reduction objectives.
Impact on grid and emissions
According to published estimates, Wedgeport Wind is expected to reduce greenhouse gas emissions by more than 100,000 tonnes annually. Local authorities maintain that this type of project is consistent with efforts to strengthen regional energy security while ensuring long-term production stability.
The project also reflects an ongoing commitment by public institutions to support energy initiatives in partnership with Indigenous communities amid a broader transformation of the national energy mix.
